Venture capital fundraising has been uneven in the last few years. Accel Partners and Kleiner Perkins Caufield & Byers are two VC firms that have had success raising new funds. The success of Facebook and Groupon has worked to their advantage in the fundraising process. However, the economic environment and poor financial returns from previous venture capital investing has caused the number of new venture funds to decline to only 119 in 2010.
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